Macroeconomics Name of the Student Name of the University
7 Pages723 Words284 Views
Added on 2021-05-31
About This Document
Running Head: MACROECONOMICS MACROECONOMICS MACROECONOMICS 6 6 Macroeconomics Name of the Student Name of the University Author note Answer 1 2 Answer a 2 Answer b 2 Answer c 2 Answer 2 3 Answer a 3 Answer b 3 Answer c 3 Answer d 4 Answer 3 4 Answer a 4 Answer b 5 Answer c 5 Answer d 5 Answer e 5 Answer 1 Answer a Figure 1: Demand, Supply and Equilibrium for flashlight The equilibrium price is $4 and the
Macroeconomics Name of the Student Name of the University
Added on 2021-05-31
BookmarkShareRelated Documents
Running Head: MACROECONOMICSMacroeconomicsName of the StudentName of the UniversityAuthor note
MACROECONOMICS2Answer 1Answer aFigure 1: Demand, Supply and Equilibrium for flashlight The equilibrium price is $4 and the equilibrium quantity is 8,000 Answer bAt $5, quantity supplied (10,000) is greater than quantity demanded (6,000). As supplyexceeds demand, a problem of excess supply exists. In response to excess supply, price isexpected to fall.Answer cAt $2, quantity demanded per month (12,000) exceeds to the quantity supplied (4,000)leading to a problem of excess demand in the market. Under the excess demand condition priceis expected to increase.
End of preview
Want to access all the pages? Upload your documents or become a member.